Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

I hear that the Blue Ridge Phase II is not doing well. Anyone having any updates on this scheme? What is the possession date for phase II? Heard a lot of cancellations have been happening there any idea please update.

It is going to take few years and things will start falling in place. I strongly recommend any buyers to go and have a look for themselves. ''There is no one size fits all''.. Look at quality of construction, amenities , speak to local residents and get a feel for yourselves as we are talking of 80 plus lacs..

Possible. "Dial-a-rickshaw" is becoming popular in outskirts of Pune. Although, I have seen Rickshaws & taxi cabs in front of SEZ. So maybe a future Rickshaw stand coming up inside BR. But don't quote me for it.

It may develop but will take some time. All depends on how much response the rickshaw services get. I don't think BR can do anything about it. It all depends on whether people need such services or not.

There are rickshaws available from highway or Wakad intersection near the bridge that can bring them to BR. But then your relatives will have to pay non-meter rates.

If you are dependent on public transport, then BR is not a place for you. It will take time for such facilities to develop.

I cannot speak for others but we typically get vegetables delivered or buy them in bulk once a week from chowk or D-mart or Reliance (Aundh) on our way back home. Works for us. We are used to it and we actually prefer that. But if you are one of those who want to walk and buy vegetables everyday & don't want to walk 2 kms, then you may want to think about other options.

I moved in to Blue Ridge as a tenant few weeks ago. Here is my first impression based on my short stay there.

Comments are as per Tower 14. The orientation is similar for Towers 9-14. However for Towers 1-8, you will have to consider change in orientation.

I have stayed in 3 houses on rent in Pune for past 4 years. As a place to buy a flat and stay permanently , I would rate Blue Ridge as 5/10 on a comparison basis.

I had seriously considered buy a flat here and even made two offers. But now I am of the mind that it is better to stay on rent here till kids pass out of school rather than buy.

Below are details:Pros:- Friendly and polite support folks. When I moved in, the guard proactively provided a trolley to move goods

- Good Club facilities.

- Close to Blue Ridge school (if your kids study there)

- Convenient travel to work-place in Hinjewadi if you use own vehicle

Cons:- Isolated location. Family members who cannot drive 4 or 2 wheeler will have mobility severely cramped. Coming from Mumbai where you can hail a auto/taxi/bus within few meters of building gate, I find this a big constraint.

- Late-evening/Night there is hardly anyone on the road beyond the SEZ fountain.

- Pain for visitors / relatives who do not have own vehicle and depend on public transport.

- Drinking Water has a different taste. You may get used to it over time but is very noticeable to me as I've just moved in.

- No long-term social interaction. Most people are tenants. Very few Owners stay. It is difficult to build long lasting social relations with neighbours as tenants are likely to change frequently. This is compounded by the fact that new towers (7-14) have low occupancy as of now. People buying to stay there with kids should consider this.

- Privacy is an issue. Flats with numbers 1 & 3 can look in to the bed/living room of the flats numbered 4 & 5. The view is from kitchen and dry balcony. Likewise, flats with numbers 4/5 have clear view in to flats 1 & 3 if dry balcony door is open. Also, part of master bed of flat numbered 3 is visible from flats 4 & 5. Considering the price of flats, this is a disappointment. Generally privacy within flats of the same building should have been good. Privacy challenges generally arise only between flats of adjacent building/complexes.

- Construction of IT office building nearby causes lot of dust. If you clean in the morning, by afternoon there is no trace left of your cleaning.

- No Shops to speak of. I wanted to buy milk in the evening and had to go all the way to the Hinjewadi chowk. The shop within the complex selling milk only keeps milk for people who buy from him on a fixed delivery basis. Very limited good available even otherwise. Nothing available at walking distance. The shop is near tower 1 and the walk from Tower 14 to Tower 1 is long.

- Construction "finishing" is not good. There is water logging in the balconies (slopes not built properly). Wooden flooring in master bed has gaps and not well secured. Gaps between bath-tub and adjacent bathroom walls.

- No provision for exhaust fan in kitchen. You need to change the window frame to accommodate. Not sure why builder does not make provision up-front considering high price.

- Dry balcony of flats numbered 1 & 3 are open and towards the south. I think that during rainy season the rain water will hit the washing machine directly causing rust issues. Also, clothes will not dry in that season.

I am not sure if posession for the 1 BHKs is done yet. In any case I have not seen 1BHKs in the market for rent yet.

Tower 7/8 was given posession recently and Tower 9/10/11 is due soon.

I think brokers will supress the 1 BHKs until the 2-3 BHKs for Tower 7-11 are largely dealt with. If 1 BHKs come in the market, it may dent the rents (and their comissions) as some renters with smaller families may choose to take 1 BHK on cheaper rent than 2 BHK.

As it is, there is an over supply of rental flats (in my personal opinion).

i inquired at BR and they are quoting more than 8000 per sq.ft. for every flat. eg : 1. 619 sq.ft flat - Agreement value (without Stamp duty, registration, service tax, VAT) is around 50,90,000. That means 8223 per sq.ft. ? 2. whereas 1027 sq.ft flat - Agreement Value is 98,31,000. That means 9572 per. sq.ft.

Rates are different depending on the towers but I did not see any flat for sale which is below 8000 per.sq.ft.

I do not know if these rates are justifiable.

In my opinion a rate of Rs 6000 p.s.f on built-up area (mentioned in Agreement) is the limit for Blue Ridge. If you actually plan to stay there, there is no point in buying at the quoted rates. if you only want to buy as investment, then you can give it a try hoping that as the entire township nears completion, the rates will rise. As an investor you do not have to think about value or utility. You need to only go by the "Greater Fool Theory" ... all you need is one buyer at a higher price when you sell.

disclaimer: I have a bias against current high RE rates in general and that colours my view of Blue Ridge as well.

I am not sure if posession for the 1 BHKs is done yet. In any case I have not seen 1BHKs in the market for rent yet.

Tower 7/8 was given posession recently and Tower 9/10/11 is due soon.

I think brokers will supress the 1 BHKs until the 2-3 BHKs for Tower 7-11 are largely dealt with. If 1 BHKs come in the market, it may dent the rents (and their comissions) as some renters with smaller families may choose to take 1 BHK on cheaper rent than 2 BHK.

As it is, there is an over supply of rental flats (in my personal opinion).

A friend of mine lives in a 3bhk with one room locked, rented as a 2bhk. Nobody is even renting 3bhk there !! he pays 13000